ETF flip: BTC spot ETFs logged +$333 million on Sept. 2, led by Fidelity FBTC with +$133 million, while ETH spot ETFs posted –$135 million with no ETF seeing any inflows.
Institutional bids: Strategy bought 4,048 BTC with total holdings rising to 636,505 BTC at $73,765 cost basis, and 25.7% YTD BTC yield. SharpLink added 39,008 ETH to raise total holdings to 837,230 ETH at an average cost basis of $4,531.
Treasury & yield themes broaden: ETHZilla deploys $100 million ETH into EtherFi for restaking, while CEA Industries added 38,888 BNB, as holdings rise to 388,888 BNB with a goal for 1% of BNB supply by year-end. In addition, CleanCore raised $175 million for a DOGE treasury.
Macro cross-currents: Gold hit a record $3,600/oz (+33% YTD) as BTC traded largely decoupled from a flat S&P 500; tariff headlines and push for “bigger” rate cuts add policy noise.
Market structure: BTC currently holding $110k - $112k zone with dense cost basis at ~$110k (1–3m holders); only ~9% of supply sits in loss, which reflects a shallow dip by cycle standards. Mean coin-age for 3months and 6months on a gentle rise, signaling accumulation with 10k - 100k BTC cohort stable (no broad whale distribution).
Capital B is bringing Michael Saylor’s Bitcoin-backed “digital credit” playbook to Europe—but with a fraction of the scale, heavier regulatory friction, and a model that only works if Bitcoin keeps climbing.
The $5 trillion asset manager is the fourth major institution after BlackRock, Goldman Sachs, and BNY to target stablecoin reserve management, partnering with Anchorage Digital on a fund that launched with $121 million in initial assets.
Reuters cited two sources saying Greece's HCMC will deny the world's largest crypto exchange its license before the July 1 hard deadline – a finding Binance publicly disputes, saying its application was reviewed and found compliant.
Unlike most existing tokenized equity products, Coinbase's offering promises genuine ownership rather than synthetic or derivative exposure – though US users will have to wait for regulatory clarity.
